31st July 2008
More than a third of people believe that they will never set foot on the property ladder, a survey published this week has claimed.
The moneysupermarket.com survey showed that 25% of people believed buying their own home would never become a reality, with another 11% saying they would not become a homeowner out of personal choice.
Meanwhile, the rental market is experiencing a boom as house sales continue to slow, with the Bank of England announcing on Tuesday that mortgage loans fell in June to their lowest point since records began in 1993.
Steven Hilton of the National Landlords Association said that its members are reporting increased demand for rental accommodation as potential first time buyers struggle to make it onto the property ladder, and that increasing rents had to be seen in the context of increasing costs.
"Due to the counter cyclical nature of buy-to-let, it is true to say that professional portfolio landlords are very confident about the future prospects of the private rented sector in the UK," Hilton added.
"Indeed this could be a good time for landlords such as this to think about expanding their portfolios."
Landlords see rental boom as first-time buyers despair
The moneysupermarket.com survey showed that 25% of people believed buying their own home would never become a reality, with another 11% saying they would not become a homeowner out of personal choice.
Meanwhile, the rental market is experiencing a boom as house sales continue to slow, with the Bank of England announcing on Tuesday that mortgage loans fell in June to their lowest point since records began in 1993.
Steven Hilton of the National Landlords Association said that its members are reporting increased demand for rental accommodation as potential first time buyers struggle to make it onto the property ladder, and that increasing rents had to be seen in the context of increasing costs.
"Due to the counter cyclical nature of buy-to-let, it is true to say that professional portfolio landlords are very confident about the future prospects of the private rented sector in the UK," Hilton added.
"Indeed this could be a good time for landlords such as this to think about expanding their portfolios."
Tags: Landlord
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